Instacart, a San Francisco, CA-based online grocery platform, raised $225m as part of a new funding.
The round, which increases the company’s valuation to $13.7 billion, was led by DST Global and General Catalyst, with existing investor D1 Capital Partners participating.
The company intends to use the funds to support its shopper community with new services and features; further invest in key businesses such as Instacart Advertising and Instacart Enterprise; and further scale its operational and technical teams.
Led by Apoorva Mehta, Founder and CEO, Instacart is accessible to more than 85% of households in the U.S., across all 50 states, and more than 70% of households in Canada. The company now partners with more than 400 national, regional and local retailers including Albertsons, ALDI, Costco, Kroger, Loblaw, Publix, Sam’s Club, Sprouts, Walmart Canada, and Wegmans, among others, across more than 30,000 stores in the U.S. and Canada. In addition to groceries and everyday goods, they have also expanded its offering over the last year to include alcohol and prescription delivery and pickup services.
FinSMEs
11/06/2020